Charter Revs Rise On Net, Video, But Drop On Cable
Charter Communications fourth-quarter revenues climbed, due to its video, Internet, commercial and advertising businesses.
Fourth-quarter 2012 revenues grew 4.3% to $1.9 billion -- with video revenues pulling in almost half at $927 million, up nearly 3%. As with most cable operators, Charter continued to lose consumers, down 4% for the year to almost $4 million. Average revenue from its customers stood $105.78, about the same versus 2011.
Most other Charter businesses continue to grow in terms of new customers and revenue. Internet revenues were 9% to $482 million, with an 8.4% year-over-year increase in its to 3.8 million.
Commercial business witnessed a 20% hike to $177 million in revenue; local advertising sales had a 19% gain to $96 million -- much of this from the big political ad season and from strong automotive advertising.
Charter had a setback, however, when it came to one of is growing business: phone service. It was down 14.3% to $186 million. The company said it was "due to value-based pricing and revenue allocation in multi-product packages, partially offset by the addition of 123,000 phone customers in the last 12 months." Still, phone customers gained year-over-year 7% to 1.9 million.
Charter was able to trim its net loss to $40 million from $67 million -- much of this coming from lower interest expense and a gain realized from the elimination of debt.